Interim Report January – September 2012

Continued good growth

• Sales for the third quarter increased with 13 percent to SEK 179.6 (159.4) million
• Operating profit EBITDA for the third quarter was SEK 12.1 (16.8) million
• Earnings per share after tax for the third quarter were SEK 0.18 (0.43)
• Sales for January-September increased with 16 percent to SEK 538.5 (463.2) million
• Operating profit EBITDA for the first nine months was SEK 17.7 (33.2) million
• Earnings per share after tax for the first nine months were SEK 0.40 (0.89)
• Cash-flow from operating activities for the first nine months was SEK 44.4 (80.0) million

CEO comment:

Continued good growth and progress for our Oracle product 

“ReadSoft delivers yet another quarter of strong growth in a generally uncertain world market. Compared to last year, our total revenue grew by 13 percent in the third quarter, of which 7 percent was organic. The growth for the first nine months of the year ended up on 16 percent, of which 8 percent was organic. We also see that our license growth is moving in the right direction. Compared to the same period last year, license sales increased by 13 percent for the third quarter, of which 12 percent was organic. Our double-digit license growth is important as it gives us a better revenue mix now and in the future. 

Our strong growth rate shows that our investments in acquisitions, employees, products, organization and geographic presence take us in the right direction. We show stable positive results for the quarter and the first nine months, but we still don’t reach the desired result levels. Our investments entail increased costs; we are for example almost 100 more employees now than at the same time last year. We believe that we are on track considering the investments made and the prevailing economic situation.

It is gratifying that we, during the quarter, have sold our solution, PROCESSIT, for automated invoice processing in Oracle E-Business Suite to two large North American groups from completely different industries. Furthermore, we are pleased that we continue to close large deals during the quarter. Among them, one of the largest deals in ReadSoft’s history, worth SEK 9.8 million, with a global automotive parts manufacturer in Germany, who chose to invest in our solution, PROCESS DIRECTOR, for automated invoice processing in SAP. ReadSoft Online, our cloud offering, experienced strong growth during the quarter. The fact that we get paid per document processed in ReadSoft Online makes it a strategically important product for building recurring revenue.

In the third quarter, our mature markets such as Germany, the UK, France and the US continued to show the way with good growth figures.

ReadSoft will keep on striving for growth, but going forward, we will give priority to increasing our profit margin. We are optimistic about our potential for a continued good development.”


Per Åkerberg
President and CEO


Read the entire report in the attached PDF.


Invitation to telephone conference / audiocast for the presentation of ReadSoft's Interim Report for January-September 2012

On Tuesday, October 23, 2012, at 9:00 CET, are analysts, investors, media and other interested parties invited to attend a telephone conference where ReadSoft’s President and CEO Per Åkerberg will comment on the published report and answer questions. The presentation will be held in English.


Link to webcast:         click here 
Day and time:             Tuesday, October 23, 2012 at 09.00 CET
Phone number:          +46 (0)8 506 857 58 alt. +44 (0)207 108 6303


You can also access the presentation via our website www.readsoft.se or www.readsoft.com.


This is information of the type that ReadSoft AB (publ) is obligated to disclose in accordance with the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on October 23, 2012 at 08.00 CET.

For additional information please contact:

Per Åkerberg, President and CEO
Phone+46 42 490 21 00 
Johan Holmqvist, Vice President Corporate Communications
Phone: +46 42-490 21 98 or +46 708-37 66 77
Jan Bertilsson, CFO
Phone: +46 42-490 21 43 or +46 708-37 66 16

e-mail: firstname.lastname@readsoft.com

About ReadSoft
ReadSoft is a leading global provider of software solutions for Document Process Automation. ReadSoft’s software enables companies to automate document processes such as accounts payable processing, document capture, document sorting, and order to cash. ReadSoft is by far the world’s number one choice for automated invoice processing, especially into business systems from SAP and Oracle. Since the start in 1991, ReadSoft has grown to a worldwide group with operations in 17 countries on six continents and a network of local and global partners. The head office is located in Helsingborg, Sweden, and the ReadSoft share is traded on the NASDAQ OMX Stockholm's Small Cap list. For more information about ReadSoft, please visit www.readsoft.com.

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